Joint FHA Loan with brother going to college

[Dimitri Paspalaris]

So, my little brother is about to start college in the fall and I was thinking of doing a joint FHA loan where I would pay all of the money down and management fees and split the cash flow when he and his friends live their. The property is going to be a single family. Is this legal and do yal think this is a smart idea. Thanks for the help.